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Is China still “communist?. Is China still “communist”?. Politically, yes. Communist Party controls the government Restriction of individual freedoms. Is China still “communist”?. Economically, kind of. Government owns or is involved in many businesses.
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Is China still “communist”? • Politically, yes. • Communist Party controls the government • Restriction of individual freedoms
Is China still “communist”? • Economically, kind of. • Government owns or is involved in many businesses. • But, there is private ownership of businesses and they trade with other countries.
“It doesn’t matter if the cat is black or white, so long as it catches mice.” - Deng Xiaoping, 1962
“To get rich is glorious.” -Deng Xiaoping, 1984
Top two lenders to the U.S. government: • Japan • China (10% of the U.S. debt)
U.S. debt: approximately $15 trillion China funds 10% of U.S. debt. Approximately how much has China funded of our debt?
U.S. debt: approximately $15 trillion China funds 10% of U.S. debt. Approximately how much has China funded of our debt? $1.5 trillion!
In 2009, Americans bought $297 billion worth of China’s products. That’s ¼ of everything China exports!
The U.S. has a trade deficit with China. This means that we buy more goods from China than we sell to China.
Once you look at all of the things we buy from China, our trade deficit is more like $226.8 billion. (Still a lot, but not as bad as $1.5 trillion)